Baker Avenue Asset Management LP Has $3.82 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Baker Avenue Asset Management LP increased its stake in Amgen Inc. by 269.1%, acquiring an additional 8,934 shares, bringing its total holdings to 12,254 shares valued at approximately $3,818,000.
• Despite mixed ratings, analysts predict growth for Amgen, with a consensus price target of $307.27 and various firms adjusting their targets upward.
• Amgen recently announced a quarterly dividend of $2.38 per share, indicating a strong commitment to returning value to shareholders.

Baker Avenue Asset Management LP raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 269.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 12,254 shares of the medical research company's stock after acquiring an additional 8,934 shares during the period. Baker Avenue Asset Management LP's holdings in Amgen were worth $3,818,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Drexel Morgan & Co. acquired a new position in Amgen in the 1st quarter worth $234,000. MONECO Advisors LLC lifted its holdings in Amgen by 20.6% during the 1st quarter. MONECO Advisors LLC now owns 4,474 shares of the medical research company's stock valued at $1,394,000 after purchasing an additional 763 shares during the last quarter. EagleClaw Capital Managment LLC raised its holdings in Amgen by 60.4% in the 1st quarter. EagleClaw Capital Managment LLC now owns 2,125 shares of the medical research company's stock valued at $662,000 after acquiring an additional 800 shares during the period. Howland Capital Management LLC grew its holdings in Amgen by 4.3% in the 1st quarter. Howland Capital Management LLC now owns 2,943 shares of the medical research company's stock valued at $917,000 after buying an additional 122 shares in the last quarter. Finally, US Financial Advisors LLC bought a new position in Amgen during the first quarter worth about $235,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. UBS Group lifted their target price on Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Citigroup raised their price target on shares of Amgen from $300.00 to $305.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Mizuho raised their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Amgen presently has an average rating of "Hold" and an average target price of $307.27.

Amgen Price Performance

AMGN stock traded up $5.06 during trading hours on Monday, hitting $301.94. 2,315,958 shares of the stock traded hands, compared to its average volume of 1,828,628. The stock has a 50-day simple moving average of $292.04 and a 200 day simple moving average of $292.19. The company has a market cap of $162.36 billion, a P/E ratio of 27.55, a P/E/G ratio of 2.57 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter last year, the firm posted $3.96 earnings per share. Amgen's revenue was up 9.4% compared to the same quarter last year. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is 86.86%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.